Mauritius sees year-on-year trade deficit fall 18.7% in March
The main reason for the year-on-year reduction in trade deficit was the 10% fall in imports in March 2014 to Rs 13,008 million, compared to Rs 14,450 million in the year-ago period. (Image: Wikimedia)
Mauritius saw a trade deficit of Rs 5,610 million for March 2014, which was lower by 18.7% compared to the corresponding month of the previous year, when it amounted to Rs 6,898 million.
Also, the trade deficit for the month, representing the difference between mercantile imports and exports, was higher by 70.4% compared to the previous month.
In March 2014, total imports rose by 21.4%, Rs 13,008 million, compared to February 2014, when it was Rs 10,712 million.
Between February and March 2014, the main increase in imported products was seen in mineral fuels, lubricants and related materials which increased by 45.8% to be set at Rs 3,602 at the end of March 2014, compared to Rs 2,471 million in the preceding month.
Also, food and live animals imports increased by 37.2% to Rs 2555 million compared to the previous month when it amounted to Rs 1,862 million.
Besides, total imports in March 2014 fell by 10.0% compared to Rs 14,450 million in the year-ago period.
For the year-on-year decline between March 2013 and March 2014, the main items which contributed to the decrease in imports were food and live animals which dipped by 15.5% from Rs 3,024 million a year-ago to Rs 2,555 in March 2014.
Also, manufactured goods classified chiefly by material declined 14.4% from Rs 2,211 million a year-ago to Rs 1,892 million in March 2014.
Total exports shows a decrease by 0.3% to Rs 7,398 million at the end of March 2014 compared to the previous month figure at Rs 7,420 million.
The main decline was contributed by manufactured goods classified chiefly by material which dipped 5.2% to Rs 674 million compared to Rs 711 million for February 2014.
Also, compared to the last year’s figure, total exports shows a decrease of 2.0%, standing at Rs 7,552 million in March 2013, compared to Rs 7,398 million in March 2014.
The main decline was contributed by food and live animals which dipped 2.3% from Rs 2,367 million in March 2013 to Rs 2,312 million in March 2014.
Finally, our major exports destinations in March 2014 were United Kingdom with a share of 15.1%, France at 14.8% and Italy at 11.1% whereas our imports were mainly sourced from India at 29.6 %, China 11.5%, France 7.3% and South Africa 6.2 %.